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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (78) $ (26)
Adjustments to reconcile net loss to cash, cash equivalents, and restricted cash provided by operating activities:    
Depreciation and amortization  39 38
Amortization of right of use asset 4 4
Stock-based compensation 63 126
Gain on settlement of lease liabilities (1) 0
Inventory valuation adjustment 37 90
Changes in fair value of equity securities (7) 25
Net fair value adjustments and loss on sale of mortgage loans held for sale 0 (1)
Origination of mortgage loans held for sale 0 (108)
Proceeds from sale and principal collections of mortgage loans held for sale 1 106
Gain on extinguishment of debt (182) 0
Changes in operating assets and liabilities:    
Escrow receivable 17 28
Real estate inventory 3,259 (622)
Other assets (3) (80)
Accounts payable and other accrued liabilities (31) 79
Interest payable (10) 0
Lease liabilities (6) (2)
Net cash provided by (used in) operating activities 3,102 (343)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (17) (20)
Purchase of marketable securities 0 (28)
Proceeds from sales, maturities, redemptions and paydowns of marketable securities 61 250
Purchase of non-marketable equity securities 0 (25)
Proceeds from sale of non-marketable equity securities 1 3
Capital returns from non-marketable equity securities 0 3
Net cash provided by investing activities 45 183
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchase of convertible senior notes (270) 0
Proceeds from exercise of stock options 2 3
Proceeds from issuance of common stock for ESPP 1 0
Proceeds from non-recourse asset-backed debt 236 6,608
Principal payments on non-recourse asset-backed debt (2,099) (6,162)
Proceeds from other secured borrowings 0 105
Principal payments on other secured borrowings 0 (100)
Payment of loan origination fees and debt issuance costs 0 (18)
Payment for early extinguishment of debt (4) 0
Net cash (used in) provided by financing activities (2,134) 436
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,013 276
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – Beginning of period 1,791 2,578
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH – End of period 2,804 2,854
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION – Cash paid during the period for interest 126 145
DISCLOSURES OF NONCASH ACTIVITIES:    
Stock-based compensation expense capitalized for internally developed software 10 8
RECONCILIATION TO CONDENSED CONSOLIDATED BALANCE SHEETS:    
Cash and cash equivalents 1,120 2,239
Restricted cash 1,684 615
Cash, cash equivalents, and restricted cash $ 2,804 $ 2,854